Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of February, 2012 (Base 2004-05=100)
The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of February 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. The General Index for the month of February 2012 stands at 174.9, which is 4.1% higher as compared to the level in the month of February 2011. The cumulative growth for the period April-February 2011-12 stands at 3.5% over the corresponding period of the previous year.
2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2012 stand at 134.8, 186.5 and 145.1 respectively, with the corresponding growth rates of 2.1%, 4.0% and 8.0% as compared to February 2011 (Statement I). The cumulative growth in the three sectors during April-February, 2011-12 over the corresponding period of 2010-11 has been (-)2.1%, 3.7% and 8.7% respectively, which moved the overall growth in the General Index to 3.5%.
3. In terms of industries, eighteen (18) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of February 2012 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Publishing, Printing and Reproduction of Recorded Media’ has shown the highest growth of 60.1%, followed by 52.1% in ‘Medical, precision & optical instruments, watches and clocks’ and 16.4% in ‘Motor vehicles, trailers & semi-trailers’. On the other hand, the industry group ‘Radio, TV and Communication Equipment and Apparatus’ has shown a negative growth of 15.9% followed by 13.5% in ‘Office Accounting and Computing Machinery’ and 9.4% in ‘Machinery & Equipment n.e.c’.
4. As per Use-based classification, the growth rates in February 2012 over February 2011 are 7.5% in Basic goods, 10.6% in Capital goods and (-)0.6% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 6.7% and 5.1% respectively, with the overall growth in Consumer goods being (-)0.2%.
5. Some of the important items of capital goods showing high positive growth during the current month and thus contributing to the growth of the overall index for the month include ‘Machine tools` (114.2%), Insulated cables/wires all kind’ (54.3%), ‘Heat Exchangers’ (50.4%), ‘Relays, Fuses & Switchgears’ (38.0%) and ‘Generator/Alternator’ (30.3%). However, some important items of capital goods are also showing negative growth. These are: ‘UPS/Inverter/Converter’ [(-) 75.5%], ‘Ship Building and Repairs’ [(-) 52.7%] and ‘Plastic Machinery incl. Moulding Machinery’ [(-) 34.8%].
6. Some of the other important items showing high positive growth are: ‘Lens of all kind’ (106.1%), Di Ammonium Phosphate (DAP)’ (80.7%) and ‘Newspapers’ (62.2%). The other important items showing negative growth during the month are: ‘Colour TV Picture Tubes’ [(-) 100.0%], ‘Vitamins’ ((-) 47.9%), ‘Complex Grade Fertilizers’ [(-) 42.3%] and ‘Cashew Kernels’ [(-) 41.9%].
7. Along with the Q.E. of IIP for the month of February 2012, the indices for January 2012 have undergone the first revision and those for November 2011 have undergone the final revision in the light of the updated data received from the source agencies. (It may be noted that these revised indices (first revision) in respect of January 2012 shall undergo final (second) revision along with the release of IIP for the month of March 2012)
8. The revised indices for January, 2012 have undergone major changes mainly due to correction in the production data of sugar which was originally reported as 134.08 lakh tonnes and subsequently rectified to 58.09 lakh tonnes. A separate Press Statement explaining the changes is also released.
9. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC)-2004 and by Use-based classification for the month of February 2012, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.
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